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Monthly, Fortnightly, or Weekly Repayment Calculator

Calculate how much you can save with our monthly, fortnightly, or weekly repayment calculator. Just enter your basic loan data below and let our comprehensive calculator do the math for you!

By repaying your home loan on a weekly or fortnightly basis, you will be making the equivalent of an extra monthly repayment each year. This will help you repay your home loan sooner and also save you interest. 

Calculator Details Breakdown

In order to help you get accurate results we utilise the following data:

  • Loan Amount – this is the amount you owe the lender
  • Interest Rate – how much interest you have to pay
  • Loan Term – how long you will repay the loan

What the results will contain:

After the calculation, you will get three options: monthly, fortnightly, and weekly repayment values. It will also show how much interest and time you’ll save with each one.

How do you decide which payment option works best?

Selecting a repayment option for your home loan can be confusing. When you first take out a loan, lenders offer you the option to pay back either weekly,fortnightly, or monthly. The choice would depend on your financial ability to pay on time.

For example, if you receive a monthly income, opting for monthly loan repayment may be the most rational option. Furthermore, setting up your repayments to transpire weekly or fortnightly could result in a slight interest saving since the funds are deposited into the loan account earlier than with a monthly payment.

However, if you utilise an offset account associated with your home loan for your transactions, this interest saving may be reduced as the funds are already offsetting the interest. In the case of an interest-only loan, your options may be restricted to selecting a monthly home loan repayment.

Not Sure What Repayment Option to Choose?

If you require assistance in ascertaining the amount of your weekly, fortnightly, or monthly home loan repayments, it may be worth considering speaking with one of our Excellence Finance brokers.

It is of utmost importance to keep in mind that any calculations provided by  calculators are solely estimations and do not include all charges and fees. Therefore, they should not be the only basis for making a decision regarding a loan. Moreover, interest rates and other expenses may change over time, and this could affect the total cost of the loan.

Consequently, it is recommended that borrowers discuss their unique financial situation with a qualified Australian Credit Licensee or Authorised Credit Representative like a mortgage broker.

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